Irish Life has said that demand from investors for products to help beat low returns from low deposit rates currently offered by banks had helped boost the profits at the pensions and investments firm.

The financial services firm appointed by Finance Minister Michael Noonan this week to advise on the capital restructuring of Allied Irish Banks has received more than €7m from the State since the banking crisis.

Life insurance and pension company Irish Life has seen a huge surge in earnings in the third quarter of the year as its merger with Canada Life remains on schedule.

The Labour Court has recommended that staff at Irish Life seeking a restoration of bonuses instead receive €1,500 for the ending of the scheme.

Irish Life generated earnings of CAD$57m (€38m) in the second quarter of its current financial year, up almost 12% on the preceding quarter.

Irish Life has increased its earnings to €38m in the second quarter of this year.

Permanent TSB is forecasting a 10% return on equity for its good-bank unit by 2017 under a plan to return it to private ownership after a bailout.

Three former bank executives are to stand trial charged with a €7.2bn fraud conspiracy.

Zurich Life Ireland recorded an operating profit of €20.5m for the first six months of the year, which is a 35% increase on the same period in 2012.

It is believed that the Government is looking at divesting its preference shares in Bank of Ireland.

The sale of Irish Life had been well flagged but, nonetheless, adds to the positive news flow over recent months. Whether it is a good deal for the Irish taxpayers depends on which way you look at it.

The sale of Irish Life to Canadian insurance giant Great-West Lifeco is expected to result in the loss of some 250 jobs from its enlarged status over the coming 18-24 months.

The €1.3bn sale of Irish Life will go towards paying off Government debt and is the first sale of a fully State-owned asset since the bailout.

Pensions and life assurance company Irish Life has been sold by the Government for €1.3bn.

Permanent TSB is on schedule to sell its car-leasing business by the end of November. The division will be sold at a discount, with the price in the range of a “few hundred million” euro, according to a source close to the company.

THE Government may have to pump a further €1 billion-plus into stricken Irish Life & Permanent after failing to sell off its profitable Irish Life assurance arm of the business.

Insurer Standard Life saw shares stride ahead today after announcing a deal that will boost its operating profits by £100m (€135m) this year.